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POSITIONED FOR DISCOVERY IN AUSTRALIA’S EXPLORATION HOT -SPOTS Investor Presentation JULY 2020 ASX : DEV

Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

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Page 1: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

POSITIONED FOR DISCOVERY IN

AUSTRALIA’S EXPLORATION HOT-SPOTS

Investor Presentation

JULY 2020

ASX : DEV

Page 2: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Important Information

❑ Forward Looking Statements

This Presentation may include statements that could be deemed “forward-looking statements”. Although the Company believes the expectations expressed in such forward-looking statements are based on

reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not

take place at all.

❑ No offer to sell or invitation to buy

This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the

basis of any contract or commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from

or in any jurisdiction.

❑ Disclaimer

Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives:

▪ make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;

▪ accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and

▪ accept no responsibility for any errors or omissions from this Presentation.

❑ Competent Person Statement

The information in this Presentation that relates to Exploration Results for the Basin Creek Project are extracted from the ASX announcement titled “New strong gold anomalies prioritised for upcoming drill

program at the Basin Creek Project, NSW” released on 23rd June 2020 and “Extensive zone of gold in rockchips identified at the Basin Creek Copper-Gold Project, NSW” released on 14th April 2020 and

“More strong gold rock chip results over a +4km strike length at the Basin Creek Copper-Gold Project, NSW” released on 6th May 2020, all of which are available on www.devexresources.com.au.

The information in this Presentation that relates to Exploration Results for the Junee Project are extracted from the ASX announcement titled “Geophysics upgrades priority drill targets at Junee Copper-

Gold Project, NSW, as new drill programme commences” released on 3rd March 2020, “New copper and gold mineralisation supports potential for large-scale porphyry system at Junee, NSW” released on

11th September 2019 and “DevEx Further Expands Potential of Junee Copper-Gold Project, NSW with Identification of Additional Porphyry Targets” released on the 5th March 2019 and “Porphyry Copper-

Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW” released on the 24th January 2018, all of which are available on www.devexresources.com.au.

The information in this Presentation that relates to Exploration Results for the Julimar Applications are extracted from the ASX announcement titled “DevEx applies for exploration licences in new Julimar

Nickel-Copper-PGE region, WA” released on 20th April 2020 and “DevEx expands position in Julimar Nickel-Copper-PGE region with strategic farm-in agreement” released on 1st June 2020, all of which are

available on www.devexresources.com.au.

The information in this Presentation that relates to Exploration Results for the West Arnhem-Nabarlek Project are extracted from the ASX announcement titled “Technical review recognises strong

similarities between U40 prospect and the Coronation Hill U-Au-PGE deposit” released on 9th May 2019 which is available on www.devexresources.com.au.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement.

❑ Exploration by Other Explorers

This Presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this Presentation. The

Company does not vouch for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and has assessed it to be of relevance to

shareholders and investors.2

Page 3: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Julimar Intrusive Complex, WA (Earn-In & 100% owned)

3

• Exploring two exciting addresses in Lachlan Fold Belt NSW and Julimar Region WA

• An aggressive explorer positioned amongst major explorers - upside potential with

market cap of just $27M and $6.95M cash balance.

• Highly motivated team – Chairman Tim Goyder is the largest Shareholder (19%),

with a track record of building successful companies through exploration discovery.

Highly prospective

ground in Australia’s

exploration hot-spots

• New wave of explorers hunting for the next Cadia-Ridgeway (Newcrest Mining) and

Northparkes (China Molybdenum Co Ltd), sparking significant interest in the region.

• DevEx has built a large +600km2 (100% owned) ground holding.

• Basin Creek: Extensive gold mineralisation and alteration at surface

• Junee: Shallow porphyry copper gold targets supported by geophysics

• Rapidly advancing to drilling at Basin Creek and Junee in August 2020

• New palladium-nickel discovery by Chalice Gold Mines has demonstrated enormous

potential for the region.

• DevEx has secured strategic ground with potential to host similar Ni-Cu-PGE

intrusions.

• Exploration underway at the Sovereign Ni-Cu-PGE Project following new earn-in

agreement.

Leveraged for Discovery Success

Lachlan Fold Belt, NSW (100% owned)

PERTH

Basin Creek &

Junee Projects

SYDNEY

Sovereign

Project

West Arnhem-

Nabarlek Project

Page 4: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

1 Capital Raise: $4.75 million tranche 1 placement capital raising complete. Tranche 2 placement to Directors to raise $0.81m (subject to shareholder approval).

See ASX : DEV Announcement 16th July. 2Current cash balance as at 30th June 2020, plus funds received from Tranche 1 placement. Amounts and numbers have been rounded.

Major Shareholders

Tim Goyder (Chairman) 19%

Top 20 41%

Board & Management

Tim Goyder Chairman

Brendan Bradley Managing Director

Bryn Jones Non Exec. Director

Richard Hacker Non Exec. Director

Kym Verheyen Company Secretary

Corporate Overview: Well funded following recent $5.5M capital raise1

4

Capital Structure

Shares 237.9M

Options 14.9M

Market Cap $27M (at 11.5c)

Cash2 $6.95M

Assets PhosEnergy Limited (8.8%):

5.1M Shares

Page 5: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

NON-EXECUTIVE

DIRECTOR

Bryn Jones

Led by a proven team –

invested and highly motivated…

NON-EXECUTIVE

DIRECTOR

Brendan BradleyMANAGING DIRECTOR

• Geologist for 25+ years.

• Extensive experience in

exploration and

development of epithermal

gold deposits.

• Highly experienced in

intrusive related nickel-

copper-PGE deposits.

• Senior management at

Perilya Ltd, Dominion

Mining Ltd and Kingsgate

Consol. Ltd.

Tim GoyderCHAIRMAN

• Mining investor with a

strong track record of

successful investment and

value creation.

• Executive Chairman of

Chalice Gold Mines Ltd

and Chairman of Liontown

Resources Ltd.

• Former Director of Strike

Energy Ltd. • Chartered Accountant (ICAA) and Chartered

Secretary

• 20+ years corporate and commercial

experience in the energy and resources

sector.

• Executive for Liontown Resources Ltd &

Chalice Gold Mines Ltd.

• Industrial Chemist with extensive experience

in the uranium industry.

• Experienced in the technical evaluation,

construction and operation of projects in

various commodities.

• Technical Director of Boss Resources Ltd,

Director of Salt Lake Potash Ltd and MD of

PhosEnergy Ltd.

Chris Torrey

CHIEF GEOLOGIST

NSW

Supported by an experienced

technical team and board

• 35+ years experience.

• Extensive experience in epithermal gold and

porphyry copper-gold exploration and

development in the Lachlan Fold Belt and

abroad.

• Former senior management with Golden Cross

Resources Ltd, Silver City Minerals Ltd and

Cyprus Minerals Corp.

5

Applying modern exploration

techniques to find quality targets

Richard Hacker

Page 6: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Lachlan Fold Belt

Gold, Copper-Gold

ProjectsNEW SOUTH WALES

Large scale gold and copper-gold potential, tightly held by major miners

Drilling to commence early Q3 2020

Basin Creek &

Junee Projects

Basin Creek &

Junee Projects

SYDNEY

Page 7: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

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Lachlan Fold Belt Region:

DevEx has built a sizeable portfolio amongst mining majors

1

• Significant rerating of the region following 2017 government mapping project recognised

rocks as the southern extension of the Junee-Narromine Belt

• No previous drilling within a globally-recognised copper-gold region for decades

• DevEx has built a large, +600km2 100%-owned ground holding:

A world-class gold, copper-gold Belt

Newmont Goldcorp Exploration Pty Ltd | Freeport-McMoran Exploration Australia Pty Ltd

| Evolution Mining Ltd | Sandfire Resources NL | St Barbara Limited

2 Major explorers within the Junee-Narromine Volcanic Belt

DevEx – Fresh exploration on underexplored ground

| Junee Copper-Gold Project

| Basin Creek Gold Project (recently granted tenure)

3

See ASX : DEV Announcement 5th March 2019 and 11th September 2019. See Slide 23 for References.

Host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd) as

well as several largescale gold deposits including Cowal Gold Mine (Evolution Mining Ltd) and

McPhillamys Gold deposit (Regis Resources Limited)

Page 8: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Basin Creek Project: Gold system defined over +4km strike length

8See ASX : DEV Announcement 23rd June 2020.

• Current exploration activities focused on Main

Ridge Gold Prospect, within the Basin Creek

Project.

• Extensive gold system defined at surface over

+4km strike with recent rock chips up to

8.0g/t gold – Targets have scale

• Close association of gold with widespread

silica, sericite, clay and potassic (adularia)

alteration - indicative of a epithermal or high

level porphyry gold system.

• No drilling for decades.

RC and Diamond Drilling to commence in

early August 2020

Page 9: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Main Ridge (Northern Target) : Defining high priority drill targets

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• Significant cluster of >1g/t gold in rock chips over

several hundred metres in northern Main Ridge Prospect.

• Northern Priority Target : 1km long drill target defined by

extensive alteration and associated rock chip and soil

geochemistry.

• Drilling by Shell (1986) intersected significant gold

mineralisation within silicified porphyry including - 33m @

0.5g/t gold from 19 metres – this intercept is open in all

directions.

• Drilling planned to test multiple targets at Main Ridge with

a priority focus to test beneath the cluster of >1g/t gold in

rock chips in the north.

See ASX : DEV Announcements 23rd June 2020, 14th April 2020 and 6th May 2020.

Page 10: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Junee Copper-Gold Project: 60Km NE of Basin Creek Project, NSW

10

Major explorers within the Junee-Narromine Volcanic Belt

Newmont Goldcorp Exploration Pty Ltd | Freeport-McMoran

Exploration Australia Pty Ltd | Evolution Mining Ltd | Sandfire

Resources NL | St Barbara Limited

Basin Creek &

Junee Projects

SYDNEY

See Slide 23 for References.

Page 11: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

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• 2017: Re-rating with Government mapping identifying

porphyry monzonite intrusions contemporaneous with the

Cu-Au bearing Northparkes and Cadia Ridgeway porphyry

intrusions.

• +20km of prospective strike.

• 2020: DevEx’s maiden exploration has identified several

porphyry Cu-Au targets.

See ASX : DEV Announcement 3rd March 2020.

DRILL READY TARGETS:

• Riversdale North: coincident IP anomaly underlying

oxidised copper mineralisation and porphyry type

alteration.

• Billabong Creek: distinctive magnetic low with

associated IP anomaly and broad scale alteration.

• Nangus Road: prospective corridor south of Cooba

Monzonite with close magnetic similarities. New Frontiers

Cooperative Drilling Grant awarded by NSW Government

to drill Nangus Road target.

Junee Project: Underexplored with no exploration drilling for +25 years

Page 12: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Riversdale North Prospect

• 2019 assays and mapping identified oxidised copper

associated with epidote veins and alteration, including a

gold + base metal gossan assaying 2.81g/t Au, 0.4% Cu

and 1.3% Pb.

• 2020 a new, chargeability Induced Polarisation (IP)

anomaly identified directly beneath this area.

1

12

• 2019 Mapping identified small occurrences of oxidised

chalcopyrite (copper sulphide)-bearing breccia (rock chips

ranging from 0.2% to 0.5% copper) immediately to NW and

adjacent to a small quartz monzonite and diorite porphyry rocks.

• 2020 A large 800m long chargeability IP anomaly identified

on the eastern side of the magnetic/gravity low.

Billabong Creek Prospect2

Billabong Creek

IP Chargeability

Junee Project: Exploration ramps up in 2020

Underlying image of Region RTP MagneticsSee ASX : DEV Announcement 3rd March 2020.

Page 13: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Riversdale North Prospect

• Coincident IP chargeability anomaly near surface

and directly beneath surface occurrences of

scattered oxidised copper and gold mineralisation

amongst porphyry type alteration.

1

13

• 800m long IP chargeability anomaly shows close

association with coincident magnetic low, which is

flanked by silica-magnetite-haematite altered rocks.

Billabong Creek Prospect2

Billabong Creek

Magnetic AnomalyRC and Diamond drilling

planned for August 2020

13See ASX : DEV Announcement 3rd March 2020.

Billabong Creek

IP Chargeability

Target

Riversdale North

IP Chargeability

Target

Small Gossan sub-crop

Rockchip – 2.81g/t Au, 0.4% Cu

and 1.32% Pb

Scattered Epidote and Oxidised

Copper Veins in Volcanics

Maximum Rockchip 1.3% Cu

Proposed Drilling

Proposed Drilling

Page 14: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Julimar Complex

Nickel-Copper-PGE WESTERN AUSTRALIA

Developing a strategic position within a new exploration hot spot

Targeting magmatic palladium-nickel-copper deposits

PERTH

Sovereign Project &

Julimar Applications

Page 15: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Julimar Complex: New ground in a new nickel-copper-PGE region

• Recent high-grade palladium and associated nickel-

copper-platinum group elements (Ni-Cu-PGE) discovery

by Chalice Gold Mines Limited (ASX:CHN) has kicked off

an exploration boom in the region.

• DevEx has secured a strategic +620km2 position:

1. Exploration Licence Applications (100% DEV) overlying

several magnetic targets considered prospective for

magmatic Ni-Cu-PGE.

2. New Earn-In Agreement with Australian Silica Quartz

Group Ltd (ASQ), to earn 50% in the mineral and metal

rights (excluding bauxite) on the ASQ tenement.

• Underexplored: The Julimar Complex has seen minimal

exploration for magmatic Ni-Cu-PGE mineralisation in the

past.

See DEV ASX: 20th April 2020 and 1st June 2020. See Slide 23 for References. 15

Page 16: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Sovereign Nickel-Copper-PGE Project : Commenced field exploration

• New Earn-In-Agreement secures the Sovereign magnetic

anomaly, which extends over both the ASQ Tenement and

DevEx’s neighbouring Application.

• The Sovereign Project is located between the Chalice discovery

and Yarawindah Brook Ni-Cu-PGE Project (Cassini Resources;

ASX: CZI).

• Regional state geology map interprets the Sovereign magnetic

anomaly as part of a mafic-ultramafic igneous complex similar to

rocks hosting Chalice’s new discovery.

• Existing land access and exploration agreements allow DevEx to

commence immediate exploration over the ASQ Tenement.

• Field mapping, surface geochemistry commenced

• Ground geophysics planned in Q3

• Designed to fast track drill target definition.

See DEV ASX: 20th April 2020 and 1st June 2020. See Slide 23 for References. 16

Page 17: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

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2020+ Forward Plan...

• 4km surface gold system identified at Main Ridge Prospect

• Rock chips and soil geochemistry have defined several extensive surface

gold anomalies

• RC and Diamond Drilling planned for Q3 2020 : Drilling prioritised towards

surface gold hot spots within the 4km system

• Indicative drill programme of 8 to 14 holes planned

Basin Creek Gold Project

Sovereign Nickel-Copper-PGE Project

• On-ground exploration commenced at Sovereign Project

• Review of data underway to define priority areas for future field exploration

• Progress Applications to grant and advance Land Access over coming months

• Objective to generate drill targets in Q4 2020

Junee Copper-Gold Project

• Reverse Circulation and Diamond Drilling at Riverside North, Nangus Road

and Billabong Creek Prospects planned for Q3 2020

• Indicative drill programme of 6 holes to test targets

Page 18: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

2020 Jul Aug Sept Oct Nov Dec 2021

Basin Creek Project, NSW

• Surface soil geochemistry (central and southern area)

• Drilling Programme

Junee Project, NSW

• Drilling Programme

Sovereign Project, Julimar Complex, WA

• Field mapping, review of previous bauxite drilling and

surface geochemistry

• Ground geophysics (magnetics and electromagnetics)

• Prioritsation of targets within Application

• Granting of Sovereign Application and achieving access

to explore

• Drilling Program (Sovereign Project)

Next Steps: Planned timeline to drill

RC and Diamond Drilling

RC and Diamond Drilling

18Proposed timeline – dates and activity are indicative and subject to external factors such as regulatory approvals, land access and upcoming exploration results.

RC and AC Drilling

Page 19: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Contact DetailsLevel 2, 1292 Hay Street

West Perth WA 6005, Australia

+61 8 9322 3990

+61 8 9322 5800

[email protected]

www.devexresources.com.au

https://twitter.com/DevExResources

https://www.linkedin.com/company/devex-resources/

Investor Relations

Read Corporate

Nicholas Read

+61 8 9388 1474

[email protected]

Page 20: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

AppendixOther Projects

20

Page 21: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

West Arnhem Nabarlek Uranium, Copper-Gold ProjectNORTHERN TERRITORY

High-grade uranium-copper-gold opportunity in a proven Uranium system

One of few ASX companies drilling for high-grade uranium

Page 22: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Exploring in Australia’s high grade uranium province

The Alligator Rivers Uranium Province (ARUP)

• +500 Million Pounds U3O8 endowment (mined and current Resources)

• Comparable to the Athabasca Basin, Saskatchewan (+1.2Blb U3O8)

• Significant potential exists for Gold-PGE Copper deposits

DevEx’s Tenure

• DevEx holds a dominant ground position of +5000km2

• Centered on the historical high grade Nabarlek Uranium Mine - Australia’s

highest grade uranium mine - 24 Mlbs @ 1.84% U3O81

• Agreements with Traditional Owners already in place

(1 mineral lease and 3 granted exploration licences)

221. Australia’s Uranium resources, geology and development of deposits, AGSO 2007 2. DEV ASX Announcement – 9th May 2019

Recent drilling intersects uranium mineralisation

beneath the historical Nabarlek Open Pit and at

U40 opening up new discovery opportunities

Page 23: Investor Presentation...Important Information Forward Looking Statements This Presentation may include statements that could be deemed “forward-looking statements”. Although the

Additional References

Basin Creek & Junee Projects – Slide 7 and 10:

1: Alkane Resource Ltd ASX Announcement 9th September 2019.

2: Sky Metals Ltd ASX Announcement 10th February 2020.

3: GSNSW East Riverina Mapping Project - Some Highlights and Implications, Eastlake and Trigg.

Julimar Complex - Slide 15 and 16:

1: Chalice Gold Mines Limited (ASX:CHN) ASX announcement “High-Grade Ni-Cu-Pd Sulphide Intersected at Julimar” on 23rd March 2020 and “High-grade Ni-Cu-PGEs

confirmed in discovery zone at Julimar” on 25th May 2020.

2: Cassini Resources Limited (ASX:CZI) ASX announcement “Drilling Commencing at Yarrawindah Ni-Cu-PGE Project” on 28th May 2020.

3: Harrison (1984) The mineral potential of layered igneous complexes within the Western Gneiss Terrain. In: Professional papers for 1984 of the Geol Surv of W.A. 19. Gov

Printing Office, Perth, pp 37–54.

4: Korsch, R.J., Doublier, M.P., 2015. Major Crustal Boundaries of Australia [Digital Dataset]. Geoscience Australia,Commonwealth of Australia, Canberra.

5: 1:500,000 State interpreted bedrock geology of Western Australia, 2016 - based on material obtained from the Department

of Mines, Industry Regulation and Safety - https://catalogue.data.wa.gov.au/dataset/1-500-000-state-interpreted-bedrockgeology-dmirs-016 and is subject to the Creative

Commons Attribution Non-Commercial 4.0 International Public License.

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